I saw it on nearly every high level bike in the late 70's, early 80's. It was new tech synthetic to us, but it was the esthetic of the times.
Our cotton became old fashioned. But it all comes full circle. I sold my stash of it a few months ago for a pittance. I've never used it, but that doesn't mean I don't think it's cool. Mexican cello tape is still more C&V to me than the new wonder wraps.